The second acquisition is with Element 99, which is a multi-faceted technology company that offers a variety of user experiences including an entrepreneur growth platform called PRENR. It also offers an augmented reality experience that offers futuristic merchant options within this exciting and fast growing field. Eric Sills, CEO of Adama Technologies commented on the news of these two acquisitions, “This is just an exciting time at Adama Technologies and I want to thank all of the talented people on the Adama team that have been working so hard to complete these two transactions. From the outside looking in, these acquisitions look like very different business operations, but these deals reflect our core strategy as a company and demonstrate our commitment to a diversified and dynamic approach.”
The company stated that they plan to complete the acquisition of the first travel center in Cusseta, Alabama on July 1 and the second location in Holiday, Florida by August 15. The Element 99 transaction is scheduled to close this week.
When asked about the diversified strategy and approach Adama Technologies is pursuing, Mr. Sills responded, stating, “We believe that for every technology company that makes it big, there are 100 companies that had ideas and plans that were just as good that just didn’t move quickly enough to capitalize on the opportunity in front of them. That is why we are intentionally looking for companies that are proven and historically reliable and then, at the same time, pursuing technology companies that have the ability to transform the world. Alpine Industries is a company that has been in business since 1967, it is a proven performer. These convenience stores are reliable revenue generators. The stability of those operations allow us to pursue a company like Element 99 that could transform the way people interact with the products they buy for years to come. It could change e-commerce as we know it. This diversified approach assures our longevity and still allows us to pursue these exciting technology concepts that can be very, very profitable.”
The company stated that additional details on the acquisitions will be made available on their website with even greater details planned to be released in the coming days.
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect,” “plan,” “predict,” “may,” “should,” “will,” “can,” the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company’s filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company’s due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.